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Dry Bulk Shipping: Capesize Market Extends Recovery Phase

Capesize The market enjoyed another constructive week, extending the recovery that gathered pace at the end of the previous week despite a brief period of midweek consolidation. Overall sentiment remained positive, underpinned by healthy cargo volumes, consistent miner activity and improving confidence across both the Pacific and Atlantic basins. The Pacific continued to provide the …

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Pacific MR Economics Drive Regionalisation between Basins

The resumption of tanker transits via the Strait of Hormuz has helped restore crude flows to non-China Asian buyers, supporting a recovery in refinery runs across Northeast Asia. With refiners securing crude supplies for August delivery and working to rebuild depleted inventories, regional runs have rebounded toward seasonal averages. This has also lifted product exports, …

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VLCC Tanker Market on the Rise

Clean LR2 The TC1 75kt MEG/Japan index dipped to WS345 this week to then return back to its previous WS360 level. A voyage west dropped in value again this week with the TC20 90kt MEG/UK-Continent index going from $8.15 million to $7.94 million. In Europe the TC15 80kt Mediterranean/East index came off by a modest …

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Iran must pledge to stop shooting at ships in Strait of Hormuz, US officials say

The US says Iran must publicly state that the Strait of Hormuz is open and pledge to stop firing on commercial ships. In a briefing for reporters on Friday, US officials said the message to Tehran had been conveyed through regional mediators. It comes after incidents earlier this week in which three commercial tankers were …

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